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A smart medical device is an appliance; soft ware, used for variety of therapeutic and dia gnostic purposes. It has been used in a wide range of applications such as monitoring he art rate; glucose monitoring; pain relief; ins ulin delivery; and so forth. Smart phones pla y a significant role in operating these smart medical devices in the healthcare sector.
The increasing adoption of smartphones acr oss the globe, coupled with rising demand fo r the medical devices compatible with smart phones are major driving factors that are au gmenting the growth of the global smart me dical devices market. The market has been a nalyzed on the basis of product type, test ty pe, and end users.
Moreover, rising geriatric population is anot her factor fueling the market. There is an inc reased demand for smart medical devices d ue to growing geriatric population since eld erly people are prone to chronic diseases su ch as CVD, Cancer and Diabetes. Major playe rs are launching new products coupled with the advancement in the technologies to furt her accelerate the growth of the global smar t medical devices
Market, Apart from these, rising population in the emerging economies and improveme nt in lifestyle standards of the people along with increasing disposable income will sho w a lucrative growth in the market during th e forecast period.
However, there are certain factors such as hi gh cost of medical devices; and security and privacy concerns of the patients (for exampl e: personal data of the patients can be hacke d) are hampering the growth of the market.
Based on the region, the global smart medical devices market has been divided into North A merica, Europe, Asia Pacific and Rest of the W orld. North America dominates the global sm art medical devices market owing to well-dev eloped healthcare infrastructure and increasi ng advancement in technologies. APAC region is anticipated to be fastest growing market du e to increasing population and rising disposa ble incomes.
The companies contributing to the growth o f global smart medical devices market inclu de Abbott Laboratories, Johnson & Johnson Ltd., Fitbit Inc., Dexcom Inc., Medtronic plc, NeuroMetrix Inc., Olympus Medical systems and many more. Majority of key players are f ocusing on partnership,
Collaboration and merger and acquisition to gain a competitive edge over others and enh ance their presence. For instance, in January 2015, Medtronic completed its acquisition o f Covidien. This acquisition was aimed at the expansion of its product portfolio resulting i n the increased market penetration and red uced production cost.
Research Methodology The market study of smart medical devices market is incorporated by extensive primary and secondary research conducted by resea rch team at OMR Secondary research has be en conducted to refine the available data to breakdown the market in various segments, derive total market size, market forecast, an d growth rate. Different approaches have be en worked on to derive the market value an d market growth rate
The OMR team collects facts and data related to the market from different geographies to provide a better regional outlook. In the rep ort, country level analysis is provided by ana lyzing various regional players, regional tax l aws and policies, consumer behavior and m acro-economic factors. The numbers extract ed from Secondary research have been auth enticated by conducting proper primary res earch.
It includes tracking down key people from t he industry and interviewing them to valida te the data. This enables the analysts to deri ve the closest possible figures without any major deviations in the actual number. Our a nalysts try to contact as many executives, m anagers, key opinion leaders and industry e xperts to get first-hand information. Primar y research brings authenticity to our reports .
Secondary Sources Include • Financial reports of companies involved in t he market • Whitepapers, research-papers and news blo gs • Company websites and their product catalo gue
The report is intended for hospitals, medical device manufacturers, diagnostic centers, go vernment and private organizations for the overall market analysis and competitive anal ysis. The report provides in-depth analysis o n pricing, market size.
and intended quality of the product preferre d by consumers. The report will serve as a s ource for 360-degree analysis of the market thoroughly integrating different models suc h as PEST analysis delivering insights into th e market for better business decisions.
Market Segmentation • Global smart medical devices market by pro duct type • Global smart medical devices market by test type • Global smart medical devices market by end users
THE REPORT COVERS • Comprehensive research methodology of Gl obal Smart Medical Devices Market. • This report also includes detailed and exten sive market overview with Analyst insights & key market trends.
• Exhaustive analysis of macro and micro fact ors influencing the market guided by key rec ommendations. • Analysis of regional regulations and other g overnment policies impacting the Global Sm art Medical Devices Market. • Insights about market determinants which a re stimulating the Global Smart Medical Dev ices Market.
• Detailed and extensive market segments wit h regional distribution of forecasted revenu es. • Extensive profiles and recent developments of market players.
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